Minister of Education and Science, Dimitri Shashkini and Minister of Finance of Georgia, Kakha Baindurashvili met with the Rectors of Higher Educational Institutions and introduced them the planned amendments in the Tax Code.

According to the decision of the Government of Georgia, Higher Educational Institutions will not be taxed. Instead, the so called “Endowment Foundations” will be established that will give the universities opportunity of sustainable development and protection of students’ rights.

These foundations successfully exist in USA and other countries of Europe and support the advancement of the quality of education.

According to the decision of the Minister of Education and Science, working group will be founded that will be composed with the representatives of the MES, Ministry of Finance of Georgia and Higher Educational Institutions. The group will work on the draft law about establishing foundations in Higher Educational Institutions during the two weeks. Afterwards, the group will send the draft law to the Parliament for discussions.